Published on Feb. 6, 2026
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According to newly released documents, David Stern, a mysterious businessman and close advisor to former Prince Andrew, repeatedly pitched Jeffrey Epstein on investing in various electric vehicle startups, including Lucid Motors and Canoo, during a period when the EV sector was booming. Stern saw opportunities to break funding logjams at these startups by bringing in Epstein, a convicted sex offender, as an investor. While it’s unclear if Epstein ever actually invested, the documents provide further insight into the many connections Epstein had to Silicon Valley startups prior to his arrest and death in 2019.
Why it matters
This case highlights the questionable business relationships and influence-peddling that existed between powerful individuals like Prince Andrew’s advisor David Stern and convicted sex offender Jeffrey Epstein, even in the fast-moving world of tech startups. It raises concerns about the lack of oversight and due diligence in the startup funding ecosystem, as well as the potential for bad actors to exploit vulnerable companies and founders.
The details
The documents show that between 2017 and 2019, Stern repeatedly tried to get Epstein to invest in various electric vehicle startups, including Lucid Motors, Faraday Future, and Canoo. Stern saw opportunities to break funding logjams at these companies by bringing in Epstein as an investor. For example, Stern pitched Epstein on investing in Lucid Motors when it was struggling to raise its Series D round, saying Ford would likely lead the round but that Jia Yueting, the founder of rival Faraday Future, needed to ‘sell now to make payroll.’ Stern also tried to get Epstein to invest directly in Faraday Future and Canoo. While it’s unclear if Epstein ever actually invested in any of these startups, the documents provide a window into the many connections Epstein had to the tech industry prior to his arrest and death.
- In May 2017, Stern sent Epstein a pitch deck for a fund called Monstera that could gain a 32% stake in Lucid Motors.
- In June 2018, Stern sent Epstein a document about the startup Canoo, to which Epstein responded: ‘fun.’
The players
David Stern
A mysterious businessman and close advisor to former Prince Andrew who repeatedly pitched Jeffrey Epstein on investing in various electric vehicle startups.
Jeffrey Epstein
A convicted sex offender who Stern tried to get to invest in EV startups like Lucid Motors and Canoo.
Jia Yueting
The founder of electric vehicle startup Faraday Future, who had quietly amassed a large stake in Lucid Motors and was blocking new investors.
Stefan Krause
The former BMW and Deutsche Bank CFO who was brought in to save Faraday Future and made a direct appeal to Epstein for investment.
Li Botan
The son-in-law of a former top Chinese leader, who became a founding investor in Canoo alongside Stern.
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What they’re saying
“’Ford will likely be lead in $400m Series D in Lucid. Big strategic move,’ Stern wrote to Epstein. Jia ‘has massive cash issues’ at Faraday, he wrote, and needs to ‘sell now to make payroll for his other business.’”
— David Stern (Department of Justice files)
“’Faraday Future (FF) is a great story in itself, regretfully surrounded by a lot of noise around Jia Yueting (YT) and his other enterprises (LeEco, LeMall, LeSports, to name a few). These businesses are not working, so he run out of cash. FF is starving,’ Krause wrote to Epstein. ‘Great chance to build a better Tesla.’”
— Stefan Krause, Former BMW and Deutsche Bank CFO (Department of Justice files)
What’s next
It remains to be seen if any further details emerge about the extent of Epstein’s involvement, if any, in these electric vehicle startups, and whether Stern’s connections to Prince Andrew and other powerful figures will face additional scrutiny.
The takeaway
This case highlights the troubling web of relationships between wealthy, influential individuals like Prince Andrew’s advisor David Stern and convicted sex offender Jeffrey Epstein, and the potential for such connections to be exploited in the fast-moving world of tech startups with little oversight or accountability.
